Unemployment up 5.6% in Oct vs up 6.5% in July — PSA

Unemployment in the Philippines grew at a slower pace of 5.6 percent in October from 6.5 percent in July, government data showed.

The underemployment rate, or the percentage of the underemployed against the total number of workers, also slowed to 17.7 percent in October from 21 percent in July, according to preliminary figures from the Labor Force Survey (LFS) released by the Philippine Statistics Authority (PSA) on Thursday.

Employment also improved, with the rate up at 94.4 percent in October from 93.5 percent in July.